 Economic Downturn to Continue? |
By: lkarnd99
22/07/2009
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"2. Russia has proved by its deep drilling techniques that oil is not a fossil derived product but is constantly manufactured within the earths core, seeping to the surface, and refilling previously dry wells."
utter nonsense << kaboodle >>
==
I would have thought you would have responded to this by asking me to provide proof instead of your troglodytish statement.
While it is off topic, I provide links to articles that prove that peak oil is a scam. It is not published in MSM as it would completely destroy our educational systems teachings, as well as expose the oil companies fraud.
Abiotic Oil
http://freeenergynews.com/Directory/Theory/Sustain ableOil/
Addressing the theory in circulation that oil is not solely of organic origin, but that there may be another mode of origin as well from deeper in the crust, involving magma.
See also peak oil
Sterling's Preface:
There is a substantial body of evidence to support this theory. That does not negate, however, the quest for getting away from dependence on fossil fuels.
The greenhouse gasses produced by the burning of such will continue to be a pressing matter that must be addressed.
Now that the world has achieved a consciousness about how we treat our planet, this news that we are not so far from depleting our oil reserves is a welcome breath of fresh air, removing some of the panic effect that can foster unrest.
Supporting Evidence, Briefly
Oil being discovered at 30,000 feet, far below the 18,000 feet where organic matter is no longer found.
Wells pumped dry later replenished.
Volume of oil pumped thus far not accountable from organic material alone according to present models.
In Situ production of methane under the conditions that exist in the Earth's upper mantle
===
The Myth Of Peak Oil
Paul Joseph Watson & Alex Jones | October 12 2005
http://www.prisonplanet.com/archives/peak_oil/inde x.htm
This myth was put to death on this board 8-10 months ago. |
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By: lkarnd99
22/07/2009
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"3. Speculators are hoarding oil and storing it all around the world by various methods including anchored super tankers, and currently trying to manipulate the oil price back up to $200 barrel....."
AND SO IS THIS << kaboodles >>
==
I hope you're just ignorant and not a shill for the oil companies.
Firms storing oil in anticipation of price increases
By Muriel Kane
Published: June 3, 2009
http://rawstory.com/08/news/2009/06/03/firms-stori ng-oil-in-anticipation-of-price-increases/
The giant US bank JPMorgan Chase has reportedly hired a newly-built supertanker to store heating oil off the Mediterranean island of Malta.
Other companies, including BP and a unit of Citigroup, have also hired ships to store either crude oil or oil products.
According to Bloomberg.com, "Traders were already using smaller tankers to store record volumes of jet fuel and heating oil in Europe as on-shore tanks filled up."
This latest move comes amid suggestions that recent increases in oil prices may be the result of speculators looking for a new financial bubble, prompting fears that increases in energy costs could stall any hope of an economic recovery.
According to MSNBC, "Even though most analysts say crude is still overpriced, the market has created its own momentum with an enormous amount of money fleeing equity and currency markets.
.. With so much money flowing into the market, prices are likely to hold close to where they are, until market fundamentals can take hold." |
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By: lkarnd99
22/07/2009
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cont..
It has recently been suggested, however, that "prices will fall substantially" once speculators run out of storage.
The practice of storing oil on ships began last winter, when the price went as low as $32 a barrel.
Bloomberg reported in January that the world's biggest owner of supertankers, Frontline Ltd., had already hired out about 20 supertankers for oil storage and had requests for up to 10 more. "I've never before seen storage demand on this scale," a shipbroker told Bloomberg.
By February, the Times of London was noting, "Shipping brokers in Tokyo say that Morgan Stanley has joined a growing international scramble to secure an oil supertanker and use it to store millions of barrels of crude in what commodity dealers believe may be the "trade of the year'."
Oil prices are currently running between $65 and $70 a barrel, more than twice what they were four months ago.
With ship rental costs being kept low by the slump in global trade, anyone who bought oil last winter could be looking at a substantial profit. |
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By: perceptions_now
22/07/2009
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So, Peak Oil, why is is so?
I'm sure that you know the history, slr, so I shall not bore YOU with too many details.
However, a brief snapshot may be in order!
A man named Dr. M. King Hubbert, an American geoscientist (with contributions to geology, geophysics, and petroleum geology,) who worked with Shell, came to the conclusion in the 1950's that Oil in individual wells, Fields, countries and indeed, Global, effectively had a finite lifespan.
This lifespan, could be well represented by a bell (or hill, if you wish), where production started low, then built up over a period of time, reached a production zenith and then production started th fall.
The first part of this production bell, being the easier to obtain and cheaper oil and the later part, being more difficult to obtain, more expensive and often of lesser grade.
So, Shell & the other oil companies, set about decrying Hubberts work, using various "tactics" and I'm sure that "the sky is falling" would have got a run.
Hubbert's Primary predictions, were -
1) The US would reach Peak domestic production in 1970, which history has shown was very accurate.
2) Global production would Peak around 2000, I believe history will again show that to be fairly accurate, with 2005 being the effective Peak. |
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By: lkarnd99
22/07/2009
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IMHO, I think and hope that these speculators will get caught holding the baby...
The world has, I believe woken up to their manipulation of the markets, and I don't believe, in spite of their efforts that there will be another "bubble"....
Hopefully oil will drop to $20.00 barrel where it belongs... |
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By: lkarnd99
22/07/2009
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lkarnd99,
Do you think so, really? << perceptions >>
===
I'd like to think that if an Audit is done and the truth is exposed, that the honest politicians, together with the U.S. citizens who are suffering as a result of the economic crisis will finally get rid of the FED and it's supporters.....
But, given their failure to make an impression over the past 9 years on these criminals, I won't hold my breath, but concentrate on ensuring that we don't get a repetition here.... |
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By: perceptions_now
22/07/2009
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So, history, is in or at hand?
Following is a Hubbert website, which provides various graphs & information, which may highlight some information.
http://www.hubbertpeak.com/summary.htm
It is particularly worth noting the "RESERVE INCREASES" of various countries in the period 1983-1990. These increased reserves magically appeared during Production Fixing negotiations and there is considerable doubt on their Authenticity!
Also worthy of note is the Time to Depletion Midpoint chart, where it is apparent that the US Oil situation itself, is already depleted But the US is also close to those with the large future reserves, being Saudi Arabia, Iraq & Abu Dhabi.
Tactics, slr, Tactics!
Why would you think this alignment was necessary? |
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By: lkarnd99
22/07/2009
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1. Big Oil has found massive oil deposits that far exceed the worlds current reserves and capped them.
===
kaboodle did not challenge me on this statement, and I provide the links to two major finds that have not been made public, and in fact another war was fought over one of them in 1982.
The prize of oil: Falkland Islands
http://www.inteldaily.com/?c=172&a=6319
====
War as a Strategic Tool of Policy: The Falklands War
http://www.ukessays.com/essays/military/falklands- war.php
The British knew about the presence of oil in the Falklands in the 70s, but started winding down their defence forces in 1981, that was when Australia agreed to purchase the aircraft Carrier HMS Invicible from them in February 1982.
Argentina also knew about the oil and believing the U.K. would not want to fight a war, invaded and took over the Falklands in April 1982..... They were wrong, and Australia agreed to let the U.K. cancel the sale, thus losing the opportunity for us to maintain our Fleet Air Arm, with The RAN Skyhawks being sold to N.Z.
===
The U.S. government has made the greatest discovery of oil in there own backyard and are current working to exploit it...
The US Government's Secret Colorado Oil Discovery
Monday, May 1st, 2006
http://www.rinf.com/columnists/news/the-us-governm ents-secret-colorado-oil-discovery
Rense
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world - more than 2 TRILLION barrels.
On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun
Dear Reader,
Five months ago, the U.S. Energy Department announced the results of a land survey. It was conducted to determine the official amount of oil a thousand feet deep in the Rocky Mountains.
..cont |
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By: lkarnd99
22/07/2009
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cont...
They reported this stunning news:
We have more oil inside our borders, than all the other proven reserves on earth.
Here are the official estimates:
* 8-times as much oil as Saudi Arabia
* 18-times as much oil as Iraq
* 21-times as much oil as Kuwait
* 22-times as much oil as Iran
* 500-times as much oil as Yemen
And it's all right here in the Western United States.
James Bartis, lead researcher with the study says, "We've got more oil in this very compact area than the entire Middle East."
More than 2 TRILLION barrels. Untapped.
"That's more than all the proven oil reserves of crude oil in the world today," reports The Denver Post.
When asked about America's least-publicized oil supply, Utah Senator Orrin Hatch said:
"The amounts of oil are staggering. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?"
Here's the kicker
The U.S. government already owns the land. It's been right there under our noses the whole time.
In fact, the government's appointed a small group of companies to begin the drilling.
Test drilling has already begun.
And the profit forecasts are ridiculous. According to the RAND Corporation (a public-policy think tank for the government), this small region can produce:
Three million barrels of oil per day That translates into more than $20 BILLION a year.
These are the conservative estimates. The U.S. Energy Dept. estimates an eventual output of 10 million barrels of oil per day. At that rate, the money flow would be even greater.
I've written this letter to tell you everything I've learned about this rarely publicized oil reserve who's drilling it and how to get a piece of the world's biggest, untapped oil supply - before it's too late.
SEE LINK FOR MORE...
The question now is.... Who will benefit? U.S. citizens or big business? |
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By: perceptions_now
22/07/2009
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An so, now & the future?
I have to say, I have no doubt, that there have been, are & will be, players in the game, who will seek to gain from the situation and that will not be restricted the financial & market players!
However, the overridding issues are the strength of the Global Economy, the medium to longer term Production Capacity of Oil & the medium to longer term position of the Global Population, in terms of Growth (or more precisely lack of it) & Aging!
There is already " a tug of war" going on, between the have's & the have not's, sounds like humanity, in general, again.
The have's, those with the Oil & Power, would like to keep it that way, but there are others, who think it's their time?
Whilst the future is not fixed, there are some more likely scenario's -
The first, is where the Political & Economic status quo continues, in the medium term.
Oil Production & Usage resume an upward swing.
The likely economic result would be a massive spikes in the Oil Price, as those in power know that Supply (Reserves) would dwindle faster.
With each such Price Spike, economic activity would drop, thus reducing the Price, following lower usage.
This saw thooth pattern would continue, but on a downward trend, for some years, until the process of lack of supply/production forced cutbacks in the Globalised economy, to the point where economies resumed being local.
An alternative would be to discover a replacement for Oil, in its many used, including Transport, Power generation, Chemical Production, the list is long.
Regrettably, I see no viable replacement, on the horizon, nor under it.
If this alternative exists, it has been extraordinarily well hidden! |
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By: perceptions_now
22/07/2009
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"The prize of oil: Falkland Islands"
lkarnd99,
I have spent a long time looking at where things are "likely or not likely", there is a reason for the above statement having a ring of truth to it, just as there is "for the US going into Iraq".
You don't go to war, if there is plenty of it (Oil), you go to war because it will be in short supply!
PS - Good luck with your Shale reserves! |
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By: perceptions_now
22/07/2009
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Bernanke Seeks to Cordon Off Monetary Policy From Lawmakers
July 22 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke sought to cordon off the central bank's independence on monetary policy from congressional scrutiny as lawmakers challenged its authority on everything from currency swaps to emergency loans.
As lawmakers embark on the biggest financial-regulation overhaul in generations, "everything is up for grabs," including Fed independence, said Christopher Rupkey, chief financial economist in New York at Bank of Tokyo-Mitsubishi UFJ Ltd. It would "open a Pandora's box" for Congress's Government Accountability Office to probe monetary policy, he said.
At stake is the future structure of the 95-year-old central bank, which was conceived to stem financial panics and is charged with achieving stable prices and maximum employment. Bernanke's remarks yesterday showed he's open to relinquishing some powers, while retaining autonomy on setting interest rates and oversight of consumer finance.
Bernanke separately urged Congress and the administration to lay out a plan that would bring the budget deficit down to a "sustainable" level of 2 percent to 3 percent of gross domestic product, from a projected ratio of about 13 percent this year.
"Unless we demonstrate a strong commitment to fiscal sustainability, we risk having neither financial stability nor durable economic growth," the Fed chairman said in his testimony.
Link -
http://www.bloomberg.com/apps/news?pid=20601068&si d=ahdMQZLMxb2U
===================
Yes, well, the article, like the FED & Governments, in general, is full of -
Credible
Reliable
Abundant
Paradoxes |
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By: lkarnd99
22/07/2009
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You don't go to war, if there is plenty of it (Oil), you go to war because it will be in short supply! << perceptions >>
=====
I beg to differ, my friend - if there is plenty of it, you go to war to take control of it.... That way you control its production and supply, hence price.
Sadaam was going to become a rogue oil trader, fixing his own prices in Euros, and now, Ahmadenijad, Chavez and Medvedev are going to, or have started to do the same......
Watch this space..... |
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By: perceptions_now
22/07/2009
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"Sadaam was going to become a rogue oil trader, fixing his own prices in Euros, and now, Ahmadenijad, Chavez and Medvedev are going to, or have started to do the same......"
lkarnd99,
Dito, for Iran!
We will agree on some things, but not on others! |
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By: perceptions_now
22/07/2009
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Roubini article -
U.S. Dollar Dump a Danger
Some members of the DPJ have vowed to shun U.S. debt, which suggests public pension funds and other quasi-government funds (such as the newly privatized Japan Post Holdings, whose shares are still held by the government) could move to higher-yielding assets if DPJ becomes the ruling party. Diversification of FX reserves and pension funds away from the U.S. dollar could mean sharp losses for the dollar. Japan is the second largest foreign holder of Treasuries after China. The reduction in Japan's external surplus in 2009 may already have contributed to a reduction in Japanese reserve growth and U.S. debt holdings. Despite the decrease in the U.S. current account deficit and a higher U.S. savings rate, the U.S. would have a very difficult time meeting its financing needs if Japan stopped buying U.S. debt and sold off its dollar assets or signaled the intent to do so. Such a move could precipitate a disorderly decline in the U.S. dollar and the loss of its supremacy as a global reserve currency, especially if other reserve holders followed Japan's lead. A dollar crash would be undesirable for Japan, though, due to its large U.S. dollar holdings and the desire of its policymakers to aid Japanese exporters through a weak domestic currency. Japanese reserve diversification are thus likely to remain gradual, but the chance of political change come August 2009 raises uncertainty on this point. |
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By: perceptions_now
25/07/2009
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It has been a while, since the last US banking demise update!
And, so, on this date 25/07/2009, the updated score is -
19 more for July
64 more for 2009
And, Yes, the pace does seem to be quickening?
Bloomberg Link -
http://www.bloomberg.com/apps/news?pid=20601087&si d=amSQ7VuIApME
FDIC Link -
http://www.fdic.gov/bank/individual/failed/banklis t.html
Close gaps, as needed? |
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By: lkarnd99
26/07/2009
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It's amazing to see the latest stories about how the economies have turned the corner, the stockmarket is booming and we are now on the road to recovery.... Have we got news for you...
The U.S. Stockmarket is definitely being manipulated by big Banks using new computer software providing HiTech/High speed and high volume transactions that give them an overwhelming trading advantage over retail investors, it also creates a false impression about the health of the stock market.
It appears the regulators are not interested, saying that if you're in the market you can look after yourself, you're all big boys....
Retail investors attempting to trade in this market are liable to lose their money. The U.S. Stockmarket and consequently all the worlds stockmarkets that mirror their activity are a SCAM.
The only people making money are the big banks using this software... How else would Goldman Sachs make their recent profit.
===
Goldman profit roars to a record
July 15, 2009
http://business.theage.com.au/business/goldman-pro fit-roars-to-a-record-20090715-dkb1.html?page=-1
Goldman Sachs Group posted record earnings as revenue from trading and stock underwriting reached all-time highs less than a year after the firm took $US10 billion ($12.6 billion) in US rescue funds.
===
These banks now control the worlds economies through this scam, and can decide to bring the world's economies crashing down at any time by stopping their trades......
The following Video, explains the current market manipulation....
Trader on Bloomberg says markets are manipulated and volumes 'ficticious'.
http://www.youtube.com/watch?v=V4cRYI2x60Q&eurl=ht tp%3A%2F%2Fwhatreallyhappened.com%2F&feature=playe r_embedded
Not only are the new high tech/high speed transactions giving big banks an overwhelming trading advantage over retail investors, they're also creating a false impression about the health of the stock market. |
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By: slr2007mclaren
26/07/2009
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to understand the cause of the US crash you need to understand the intention behind the changes of Sarbane-Oxley
if we had paid attention to that when Enron went down then then would have been a little better managed |
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By: perceptions_now
26/07/2009
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"to understand the cause of the US crash you need to understand the intention behind the changes of Sarbane-Oxley"
slr,
Really??? |
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By: slr2007mclaren
26/07/2009
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yes
REALLY! |
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By: pansi1951
26/07/2009
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<<It's amazing to see the latest stories about how the economies have turned the corner, the stockmarket is booming and we are now on the road to recovery.... Have we got news for you...>>
......................... ......................... ..
Someone should tell Jerry Harvey, he reckons if you think positive it will go away. Some people actually believe him too.
Everything is not as it appears! |
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By: perceptions_now
26/07/2009
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"yes
REALLY!"
slr,
I am happy to agree with you & Andrei, that there are issues there.
However, the primary reasons behind this global crash, did not originate in the intentions behind the changes of Sarbane-Oxley!
That said, regulators, Politicians, Business & some Union activity, have been grossly at fault, over an extended period and I note such incidents as Enron, Madoff & Worldcom. |
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By: perceptions_now
26/07/2009
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lkarnd99,
The following seems like a quotable, quote, courtesy of doubleguns on Seeking Alfa.
===============
"A mugger on the street is performing nothing more than redistribution of wealth.
In this case the mugger is GS." |
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By: perceptions_now
26/07/2009
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FORD LOSES FOCUS
Ford planned to build 40,000 Focus small cars a year in Australia, with 15,000 earmarked for export. But the company's president, Marin Burela, said an Australian-built small car could not compete with models built in low-cost plants overseas.
"It was a difficult decision but we could not profitably manufacture the [Focus] car here," said Mr Burela. The decision would not have an impact on jobs.
link -
http://www.smh.com.au/environment/energy-smart/for d-dumps-small-car-plan-for-fuelefficient-falcon-20 090724-dw6h.html |
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By: perceptions_now
27/07/2009
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Real Yields Highest Since '94 Aid Treasury $115 Billion Auction July 27 (Bloomberg) -- The highest inflation-adjusted yields in 15 years are helping provide the Treasury with record demand at auctions as the U.S. prepares to sell $115 billion of notes this week.
Treasuries are the cheapest relative to inflation since 1994 after consumer prices fell 1.4 percent in June from a year earlier. The real yield, or the difference between rates on government securities and inflation, for 10-year notes was 5.06 percent on July 24, compared with an average of 2.74 percent over the past 20 years.
The gap helps explain why investors are buying bonds after losing 4.8 percent this year, the steepest decline on record, according to Merrill Lynch & Co. indexes that date back to 1978. While Treasury will probably sell an unprecedented $2 trillion of debt this year, Federal Reserve Chairman Ben S. Bernanke said last week that limited inflation pressures will allow policy makers to keep interest rates near zero.
"Concerns surrounding rising Treasury supply to fund the various U.S. stimulus programs are overblown," strategists led by Brad Henis in New York at Citigroup Inc
Link -
http://www.bloomberg.com/apps/news?pid=20601087&si d=asvejtieUyRc
=======================
And, yet More -
Credible
Reliable
Abundant
Paradoxes
from the US banks, as Citi says concerns over sale of US Treasuries, are overblown! |
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Economic Downturn to Continue? |
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